GMAC Bank, relaunching itself as Ally Bank, is offering a 9 month, no risk CD rate of 2.47% with an annual yield of 2.50%. They also have a traditional CD rate of 2.57% with an annual yield of 2.60%, slightly higher than the no risk certificate of deposit. Those are some of the best CD rates available even compared to longer term CDs such as 12 month and 5 year CDs (averages 2.48% when last checked).
The no risk certificate of deposit has many great features, including:
- No money needed to open
- Withdraw funds without penalty within the first 6 days
- Really no risk!
If you are looking for the highest CD rates available, Go Banking Rates can help you there as well.